SquareTrade 3-Year Fitness Equipment Warranty ($100-200 Items) Review

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(More customer reviews)I ordered this warranty with a Stamina InMotion II Manual Treadmill. After you register with Squaretrade, the first thing it wants is the serial number followed by a number of other items. The site is deceptive and I hate deception. It makes it look like all you need to enter is the serial number and you're good to go, but then it wants more and more information, some of which you have to select from menus that have inaccurate, incomplete or misleading classifications.
Then it suggests that you email or fax in your receipt. Why? You ordered it from Amazon, just like the warranty. If you return the item or don't pay for it, wouldn't you also ask for a refund of the Squaretrade purchase? Squaretrade knows exactly what you purchased the warranty for, but it want's you to re-document everything as if it knows nothing.
What counts as a receipt? Who knows. I emailed in my auto-confirm order from Amazon. Squaretrade acknowledged the email saying that it would not validate my information unless and until I file a claim, which means that at that time, if any, the company can simply say my receipt is insufficient and deny the claim. Just to be safe, I printed out an invoice from Amazon, but who knows if that's sufficient proof of purchase by Squaretrade standards.
In my opinion, this business model has all the makings of a scheme to collect a payment for a warranty extension and then make it as difficult as possible to collect on a claim. I don't know what the company does, but it would be all too easy to say, "I'm sorry, we can't honor your claim, but we'll issue you a refund for the cost of the warranty protection." In this way, people can get rich without really providing very many people with any real protection. I don't like it. People aren't purchasing a chance for a refund of the warranty extension cost if their product breaks. They want a repair. Without knowing the percentage of claims rejected by Squaretrade, it's impossible to know exactly what you're buying.
In short, the registration process is cumbersome with too big of a gap for a possible future denial of a warranty claim. If the price seems too good for what the company is promising, you have to know that it knows how to make money even at the relatively low price it charges. I recommend skepticism.

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SquareTrade Care Plans are great value and cost 70% lower on average than traditional warranties.  Upon purchase, you will get an email confirmation.  You will not be mailed a paper contract.  If you have questions, please call: 1.877.WARRANTY.

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